When it is too late to sell such big losses, I think that you should hold coins. I think that they will recover.
Not right now... the market will act same as 2014 after bitcoin crazy bull run. BTC is slowly gaining dominance because his blockchain is not full...
2014 is so far for the current market. I think you need to wait more times before confirm the current market will happen like 2014.
If which things you said are right, it means we need to wait few years (as until 2019-2020) to see the cryptocurrency market comeback, right?
For me, I think the whale do not want to make this market becomes quiet again.